Florida Commission on Hurricane Loss Projection Methodology Suspends Previously Approved AIR’s Hurricane Loss Model
Oct 26, 2010
In an emergency meeting today, October 26, 2010, the Florida Commission on Hurricane Loss Projection Methodology (“Commission”) voted to suspend AIR Worldwide Corporation’s (“AIR”) Atlantic Tropical Cyclone Model V12.0, Program CLASIC/2 V12.0, after an error relating to software implementation was recently discovered. A subset of the Commission’s professional team will conduct an on-site audit of corrections made to the model, following which the Commission will hold an expedited meeting to discuss the team’s findings. The audit is expected to be scheduled for the first or second week of November.
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